GLOBAL PAYROLL MAGAZINE
91
The Benefits of Modern Payroll Organisations that invest in modern payroll solutions gain advantages, including: Improved Talent Retention: Accurate and timely payroll fosters employee trust and satisfaction, while data- driven insights can inform strategies to retain top talent in competitive markets. Enhanced Compliance: Automated systems simplify compliance with complex, evolving regulations, reducing the risk of errors and penalties. Operational Efficiency: By streamlining processes and reducing manual workloads, payroll teams can reallocate their time to higher-value activities. Informed Decision-Making: Real-time access to workforce and payroll data supports better decision-making at all levels of the organisation. Payroll as a Strategic Driver The future of payroll lies in its ability to act as a strategic enabler rather than a back-office function. Organisations must not only modernise their payroll systems but also rethink how they use payroll data to drive business outcomes. This requires: Prioritising Technology Investments: Advanced tools enable organisations to achieve global visibility, improve accuracy, and streamline operations. Fostering Collaboration: Breaking down silos between payroll, HR, and finance allows for a more cohesive
approach to workforce planning and strategy.
Building Expertise: Upskilling payroll professionals to use data analytics and AI tools ensures they can maximise the value of modern systems. At Workday, we are committed to helping organisations navigate this transformation. Our solutions provide the flexibility, scalability, and intelligence needed to turn payroll into a strategic asset that drives business success. In a world where agility and innovation are critical, payroll has the potential to be more than a function—it can be a force for growth, resilience, and competitive advantage. The organisations that embrace this vision will be well-positioned to lead in the future of work.
Author: Jen Cozier
Jen Cozier, CPP, is the Vice President of Payroll Product
Management at Workday . Since stepping into the position in January 2024, Jen has been at the forefront of driving innovation in payroll solutions, championing seamless global integrations, and addressing the complex needs of multinational enterprises. Jen plays a crucial role in shaping the strategic direction of Workday’s global payroll solution .
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